Türkiye’s exports to 2 main markets, the United States and Germany, which once more took the lion’s share within the nation’s international gross sales, elevated to report ranges in 2022.
Exports to the U.S. reached a report stage of $14.3 billion final yr, in the meantime, gross sales to Germany elevated by 6.9% in 2022 in comparison with the earlier yr and reached $18.9 billion, reaching an all-time excessive, in line with an Anadolu Agency (AA) report Tuesday, which cited information by the Turkish Exporters Assembly (TIM).
While Germany is a very powerful commerce accomplice of Türkiye, which maintains its data in exports, Germany is among the many nations with the best variety of international firms within the nation, with round 7,600 firms.
Germany was adopted by the U.S. with $14.3 billion, a historic peak, the United Kingdom with $12.2 billion, Italy with $11.2 billion and Iraq with $10.4 billion.
While Türkiye’s exports elevated by 11.8% to the U.S., a 5.3% enhance was recorded in exports to Italy and 16.4% to Iraq.
The nation’s exports decreased by 7.2% to the United Kingdom.
U.S. exports
While Türkiye stays a middle of attraction for world manufacturers, the rise in funding and commerce with the U.S. has enabled Türkiye to acquire simpler ends in its international gross sales to the nation.
The U.S. demand for Turkish merchandise peaked as U.S. firms headquartered within the nation and working in Türkiye expanded their business actions.
While exports to the U.S. elevated by 11.8% in 2022 in comparison with the earlier yr, the share of the U.S. in Türkiye’s exports was 5.6%, making it the second nation to which Türkiye exported essentially the most final yr.
The U.S. was additionally the second nation during which Türkiye’s exports elevated essentially the most when it comes to worth.
The nations to which Türkiye elevated its exports essentially the most when it comes to worth final yr have been Russia with a $2.3 billion enhance, the U.S. with $1.5 billion, Iraq with $1.4 billion, Romania with $1.4 billion and Germany with 1.2 billion.
In this era, Türkiye made international gross sales of $7.6 billion to Russia, $10.4 billion to Iraq and $6.3 billion to Romania.
The nations during which Türkiye’s exports decreased essentially the most when it comes to worth have been the U.Okay. with a $949.1 million lower, China with $465.5 million, Belgium with $318 million, Spain with $205.2 million and Singapore with $198.6 million.
Automotive exports lead
Last yr, the automotive business made essentially the most exports to Türkiye’s No. 1 export market, Germany with $4.3 billion.
The automotive business was adopted by ready-made clothes and attire with $3.6 billion, ferrous and non-ferrous metals with $2.1 billion, electrical energy and electronics with $1.3 billion, and chemical compounds and merchandise with $1.3 billion.
Ships, yachts and companies exports, in the meantime, reached $6.7 million, different industrial merchandise to $8.1 million, decorative crops and merchandise to $11.7 million, tobacco to $12.2 million, and olive and olive oil to $41 million.
The ferrous and non-ferrous metals sector made the best enhance in exports to Germany on a worth foundation with $414.6 million.
This sector was adopted by the automotive business with $224.7 million, ready-made clothes and attire with $172.1 million, the metal business with $140.8 million and chemical compounds and their merchandise with $88.7 million.
The metal business exported $903.5 million to the nation final yr.
Exports of hazelnuts and their merchandise to Germany decreased by $44.3 million to $489.6 million, whereas the export of the contemporary fruit and vegetable sector decreased by $44.1 million to $243.6 million.
